MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

MNI BRIEF: PBOC To Watch CNY Moves Closely - Vice Governor Zhu

MNI BRIEF: China Aims To Digitalise 70% Of Firms By 2025

MNI BRIEF: Q1 Cross Border Activity Up 117.8% - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

MNI: EUROZONE FEB CONSTRUCTION OUTPUT +1.8% M/M, -0.4% Y/Y

Q1 Industry Survey Suggests H1 Growth Tailwind

Indonesian Sov Curve Flattens, Barclays See BI Cutting Next Week

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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EGB Supply For W/C May 23, 2022 (1/2): Recap

EUROZONE ISSUANCE

Finland, France, Germany, Lithuania and Italy are all still due to sell bonds this week for a further estimated E14.3bln. Greece, the EU, Belgium, the Netherlands, Austria and Italy have sold bonds already this week for an estimated E17.4bln. We look for estimated gross nominal issuance of E31.7bln, down from the E34.7bln sold last week.

  • Greece kicked off issuance for the week on Monday, selling E500mln of the 3.90% Jan-33 GGB (ISIN: GR0128015725) via auction.
  • The EU then sold E2.498bln of the 10-year 1.00% Jul-32 EU NGEU (ISIN: EU000A3K4DD8).
  • Also Monday, Belgium sold a combined E3.807bln of 3/10/55-year OLOs (top of the target range): E1.258bln of the 0.80% Jun-25 OLO (ISIN: BE0000334434), E1.757bln of the 0.35% Jun-32 OLO (ISIN: BE0000354630) and E792mln of the 2.15% Jun-66 OLO (ISIN: BE0000340498).
  • On Tuesday, the Netherlands sold E1.53bln of the 30-year 0% Jan-52 DSL (ISIN: NL0015614579), the mid-point of the E1-2bln target range.
  • Also Tuesday, Austria launched its inaugural Green RAGB via syndication. E4bln (including E250mln retained by the issued) of the 1.85% Mar-49 Green RAGB was sold, with books over E25bln.
  • Finally on Tuesday, Italy also held a syndication yesterday to sell E5bln of the new 15-year 3.25% Mar-38 BTP. Books were also in excess of E25bln.
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